Publications and Subscriptions «Entrepreneur» Flash

«Entrepreneur» Flash

Issued every 14 days, it includes the current economic indicators and the trend outlook from Credit Suisse Economic Research – sent directly to your smartphone.

26. April 2017

Forecast for the next 30 days:

Demand:

Rising

Inflation:

Rising

Labor market:

Rising

Q2 2017 Starts on Optimistic Note

Switzerland's export-oriented SMEs start the second quarter of 2017 on a positive note. According to the latest export sentiment survey by Switzerland Global Enterprise, one in every two SMEs expects export growth. Precisely 48.4% of Swiss SMEs that responded expect exports to grow during the coming quarter. In the preceding quarter the figure was 37.4%. However, 44.1% of SMEs expect their export volumes to stagnate, compared to 42.6% at the start of Q1 2017. In addition, only 7.5% of the SMEs fear falling exports, compared with 10.0% in the preceding quarter. Confidence extends across all sectors, with sentiment particularly positive in the Consumer Discretionary sector. The electrical engineering, services, and mechanical engineering sectors are also very confident. This brightening of sentiment is necessary for a sustainable upturn. But given the multitude of political risks worldwide, it is unfortunately not enough in itself. Overall, we expect export growth in 2017 to be on a par with last year.

Exchange Rate and Interest Rates Today / in 3 Months:

EUR/CHF: 

1.07/1.06

3M Libor: 

–1.25 - –0.25/–1.25 - –0.25

10-year government bonds:

−0.3/0.0